document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1142733>Question 1142733</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A college used a $7,000 gift from an alumnus to make two student loans. The first was at 3% annual interest to a nursing student. The second was at 6% to a business major. If the college collected $300 in interest the first year, how much was loaned to each student? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #763467 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13200)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=763467\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "(1) Do the calculation to determine that $300 return on $7000 represents an interest rate of (30/7)%, or 4 2/7%.<br><BR>\n" );
document.write( "(2) Do the calculations to determine that 4 2/7% is 3/7 of the way from 3% to 6%.<br><BR>\n" );
document.write( "(3) That means 3/7 of the total was loaned at the higher rate.<br><BR>\n" );
document.write( "ANSWER: 3/7 of $7000, or $3000, at 6%; the other $4000 at 3%.<br><BR>\n" );
document.write( "CHECK: .06(3000)+.03(4000) = 180+120 = 300. </SPAN>\n" );
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